2025 removal of cash element of VAT from B2B domestic construction services to fight fraud Greece’s Ministry of Finance is proposing in its 2025 Budget to adopt Article 199 of the EU VAT Directive for the VAT Act, which mandates the shift of VAT compliance
Updates to revenue and expense reporting to myDATA reporting Jan 2024 Greece’s tax transaction reporting regime platform, myDATA, includes a number of updates from 1st January 2024. There are longer term plans (see below) include mandatory VAT e-invoicing potentially from 2025. The start of the
Extension of COVID-19 rate cut taxis; permanent cut for other supplies The Ministry of Finance’s 2024 Budget includes a sixth extension to the reduced VAT rate for a range of basic supplies until 30 June 2024. This covers taxis and self-serve coffees. However, the budget
Finance Ministry targets extra €2 billion VAT collections from digitalisation of reporting The Greek Finance Ministry is aiming to improve on the nearly 20% VAT gap losses in tax revenues from a range of measures. Greece is looking to emulate the success of Poland and
VAT imposed on renters of three or more properties 2024; hike in ‘stayover tax’ Greece is to automatically apply VAT on sharing economy home renting where the provider offers three or more properties. The VAT rate on accommodation in Greece is currently 13%. This is
Transaction data based on myDATA submissions now available for 2022 filings onwards The Greek tax office, AADE, is now offering voluntary pre-completed VAT returns for taxpayers to use. This covers late or corrective 2022 returns going forward. This service has been introduced at the start
Annual customer and vendor consolidated report ends 15th June 2022 The Greek annual statement of supplier and customer invoices is to be withdrawn this year. The last year, covering 2021, must be submitted by 15 June 2022. This is an extension announced this week –
Persistent VAT gap of 26% brings range of digital recommendations The Bank of Greece has put forward a range of proposal to tackle the Greece’s VAT gap, the measure of actual tax receipts versus expected, is one of the highest in the EU at 25.8%,
Finance Ministry considering food VAT rate cuts during inflation spike Last week, the Greek government confirmed a revaluation of cutting Value Added Tax rate on basic foodstuffs. The current reduced rate is 13% on certain foods; 24% on most other supplies. The Finance Ministry may
